From yesterday, Monday night and until Monday 10 May, the online application platform for the beneficiaries of the seventh cycle of the Refundable Advance is in operation. The Ministry of Finance will start crediting the accounts on Maundy Thursday. The total number of beneficiaries is reportedly around 300,000 businesses and professionals.
Who is eligible to participate?
Professionals and companies that started up to 1 February 2021 and show a 20% decrease in turnover in the first quarter of 2021 are eligible to participate in the Refundable Advance 7.
However, according to the decision of DGOU 366/2021 – Government Gazette 1290/B/1-4-2021, businesses that were subject to restrictive measures under the Code (retail, catering, tourism, sports, culture, transport, gyms, hairdressing salons, OPAP shops, driving schools and other sectors subject to restrictive measures) are excluded from this restriction.
Please note that 50% of the aid is non-refundable. For the period until 31 December 2021, a grace period is granted without interest during which the beneficiary undertaking is not obliged to repay any part of the capital or interest. The amount of aid to be reimbursed is paid back in 60 low-interest monthly instalments.
The amount of aid for individual enterprises with no employees and no cash register that meet the criteria will be equal to EUR 1,000. The amount of aid for legal entities and other sole proprietorships will be a minimum of EUR 1,000 and may reach up to EUR 100,000, depending on the amount resulting from the formula.
Increased thresholds are foreseen for companies that have been subject to restrictive measures and are directly affected, EUR 1,000 without employees, EUR 2,000 with up to 5 employees, EUR 4,000 with up to 20 employees and EUR 8,000 for more than 20 employees. That is, increased support is foreseen for retail, catering, tourism and, more generally, for businesses on which restrictive measures have been imposed.
Specifically
The Municipal Water Supply and Sewerage Enterprises, the Port Organizations and the enterprises of the local authorities operating in the sectors “Ski Resort Services” and “Services of therapeutic baths and thermal springs”.
Private businesses of any legal form, including sole proprietorships, as well as non-profit enterprises subject to VAT, which have their registered office or permanent establishment in Greece and operate legally, regardless of their Activity Code Number (ID number), with the exception of the following:
α) Enterprises employing more than one thousand (1,000) employees on a salaried basis on 1 March 2021,
b) Legal Persons under Public Law (N.P.D.D.) and Legal Persons under Private Law (N.P.I.D) which are purely municipal, inter-municipal, inter-communal, inter-county, inter-county, communal and prefectural enterprises, municipal public utilities, municipal cooperative enterprises, associations of building management persons, fundraising committees, European economic interest groups, consortia, international organisations and political parties,
(c) enterprises that have started operations after 1 February 2021, which meet specific criteria and conditions.
FEK 1290/B/1-4-2021
